Top fly tackle brand Orvis has entered into an agreement to buy fly line brand Scientific Anglers and rod and reel brand Ross from 3M, in one of the biggest deals in the recent history of the fly fishing trade.
Manchester, Vermont-based Orvis intends to run Scientific Anglers from its Midland, Michigan base, while Ross will also stay put at its Montrose, Colorado headquarters. The move will also see top fly industry body Jim Lepage heading up both brands as president.
“We think both businesses have incredible opportunities to drive fly-fishing innovation well into the future,” said David Perkins, Orvis Executive Vice Chairman.
“Jim Lepage will move to Midland and from there he will be dedicated to running both S.A. and Ross. He and the excellent teams already in place will build these strong brands for the future. Neither consumers nor the trade will likely notice much of a difference in the branding of these businesses under Orvis ownership. What they will notice is renewed marketing energy, well-supported sales and service staff and an even higher level of new product innovation.”
Tackle Trade World understands that the deal will be completed later in the second quarter.
Both businesses will maintain their current operations, facilities, employees and independent sales representation. Lepage will relinquish his responsibilities as Vice President of Rod & Tackle with Orvis to be fully committed to his new role as President of both companies. Lepage is relocating to Midland, where he says he will consolidate R&D for both S.A. and Ross.
Jim said: “Our goal is for Scientific Anglers to be the world leader in fly lines, leaders and tippet, and for Ross to be the leading innovator in American-made fly reels.
“We plan to maintain strong investment in R&D at both businesses and we intend to bolster their sales and distribution resources here in the U.S. and build both brands internationally.”
Well folks looks like the angling world is thriving and healthy. Will we see more acquisitions in other areas of the fishing industry. Do keep following us here!
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original source of article here.